For this analysis I’ve looked at the top 40 currencies (excluding Bitcoin) by market cap at the start of the year and graphed how the growth achieved for the year to date (22nd May) has compared with market cap at the start of the year. This analysis excludes currencies which have been released since the start of the year.
Some top level figures to begin with…
Exluding Bitcoin, the weighted average growth for the year to date was 1797%. So if you had spread $1000 across the top 40 currencies by market cap on the 1st January 2017, your portfolio would be worth $17,970 today. If you were to include Bitcoin in the top 40, the weighted return would be 320%.
One of the reasons for this analysis was to see if the growth achieved was related to market cap. So, was the growth greater for smaller currencies in the top 40 than the larger ones. When you exclude Bitcoin (which is a huge outlier due to it’s market cap at 1st January) the answer to this question appears to be no (growth is not related to market cap). In fact, the growth has been very evenly spread across the top 40 (excluding Bitcoin). The weighted average growth for top 10, next 10, and so on are:
1-10: 1885%
11-20: 844%
21-30: 1919%
31-40: 2627%
The graphs and tables below show the breakdown of this analysis. Interestingly, there was no currency in the top 40 that dropped in price.
Thanks for reading.